Price Target Changed • Nov 16
Price target decreased to US$1.50 Down from US$2.63, the current price target is provided by 1 analyst. New target price is 6.8% below last closing price of US$1.61. The company is forecast to post a net loss per share of US$0.32 next year compared to a net loss per share of US$1.78 last year. Bekanntmachung • Aug 11
Disc Medicine, Inc. entered into an agreement to acquire Gemini Therapeutics, Inc. (NasdaqGM:GMTX) in a reverse merger transaction. Disc Medicine, Inc. entered into an agreement to acquire Gemini Therapeutics, Inc. (NasdaqGM:GMTX) in a reverse merger transaction on August 9, 2022. Under the terms of the all stock transaction, based on the exchange ratio, pre-merger Gemini shareholders will own approximately 28% of the combined company and pre-merger Disc stockholders will own approximately 72% of the combined company. The percentage of the combined company that Gemini’s shareholders will own as of the close of the transaction is subject to adjustment based on the amount of Gemini’s net cash at the closing date. In support of the merger, Disc has secured commitments from a syndicate of healthcare investors led by Access Biotechnology and including OrbiMed, Atlas Venture, 5AM Ventures, Novo Holdings A/S, Arix Bioscience, Rock Springs Capital, and Janus Henderson Investors, for a $53.5 million financing that is expected to close concurrent with the completion of the merger. Upon closing of the transaction, the combined company is expected to operate under the name Disc Medicine, Inc. and trade on the Nasdaq Global Market under the ticker symbol IRON. Disc will pay a termination fee of $7.8 million to Gemini, in case Disc terminates the transaction. Gemini will pay a termination fee of $3 million to Disc, in case Gemini terminates the transaction.
Following the merger, the combined company will be led by John Quisel, the current Chief Executive Officer and President of Disc Medicine, and other members of the Disc management team. The Board of Directors of the combined company will be composed of nine members, including eight Disc board members and one from Gemini. Georges Gemayal, Chair of the Board and Interim Chief Executive Officer of Gemini, will be continuing as a Director of the combined company. Gemini Therapeutics, Inc. will be renamed “Disc Medicine, Inc.” and the corporate headquarters will be located in Watertown, MA. The transaction has been unanimously approved by the Board of Directors of both companies. The transaction is subject to approvals by the stockholders of both companies; Nasdaq’s approval of the listing of the shares of Gemini common stock to be issued in connection with the merger; effectiveness of the Registration Statement; and other customary closing conditions. Certain stockholders of Disc holding approximately 90% of the outstanding shares of Disc and certain stockholders of Gemini holding approximately 36% of the outstanding shares of Gemini have entered into support agreements to vote in favor of the transaction. The transaction is expected to close in the fourth quarter of 2022.
Stuart M. Falber and Christopher D. Barnstable-Brown of Wilmer Cutler Pickering Hale and Dorr LLP acted as legal advisor; and SVB Securities acted as financial advisor to Gemini Therapeutics. William D. Collins of Goodwin Procter LLP acted as legal advisor; and, Morgan Stanley and Wedbush PacGrow acted as financial advisor to Disc Medicine. Price Target Changed • Apr 27
Price target decreased to US$1.88 Down from US$2.63, the current price target is an average from 4 analysts. New target price is 23% above last closing price of US$1.53. Stock is down 87% over the past year. The company is forecast to post a net loss per share of US$0.60 next year compared to a net loss per share of US$1.78 last year. Bekanntmachung • Apr 06
Gemini Therapeutics, Inc. Announces Departure of Samuel Barone as Chief Medical Officer Effective as of April 15, 2022 (the Separation Date), Samuel Barone, M.D. will depart as the Chief Medical Officer of Gemini Therapeutics, Inc. Bekanntmachung • Mar 02
Gemini Therapeutics, Inc. Announces Executive Changes Gemini Therapeutics, Inc. announced a leadership transition, strategic evaluation and corporate restructuring. The Board of Directors has appointed Georges Gemayel, Ph.D., the Company’s current Executive Chair, as Chief Executive Officer to succeed Jason Meyenburg, who has transitioned from his roles as President, CEO and Director and will continue to serve as an advisor to the Company. Bekanntmachung • Mar 01
Gemini Therapeutics, Inc. Announces Management Changes Gemini Therapeutics, Inc. announced a leadership transition, strategic evaluation and corporate restructuring. The Board of Directors has appointed Georges Gemayel, Ph.D., the Company’s current Executive Chair, as interim President to succeed Jason Meyenburg, who has transitioned from his roles as President, CEO and Director and will continue to serve as an advisor to the Company. Bekanntmachung • Jan 12
Gemini Therapeutics, Inc. Announces Updates from Ongoing Phase 2A Clinical Studies of GEM103 and Strategic Evaluation of GEM103's Clinical Development Program Gemini Therapeutics, Inc. announced updates from its ongoing phase 2a clinical studies of GEM103 and strategic evaluation of GEM103’s clinical development program. GEM103 Phase 2a ReGAtta Study Update: Ongoing analysis of the 62 patients enrolled in the ReGAtta study continues to show that more than nine months of GEM103 exposure has been generally well-tolerated, able to durably reduce biomarkers of complement activation, and able to maintain supraphysiological levels of Complement Factor H (CFH). ReGAtta, an open-label, non-controlled study, was designed to evaluate GEM103’s safety and pharmacokinetics (PK) over multiple intravitreal injections. GEM103 Phase 2a as an Add-On to Anti-VEGF Therapy for the Treatment of Wet AMD Study Update: In December 2021, the Company received six-month data for the 50 patients enrolled in the wet AMD study. This study was designed to investigate the safety and tolerability of GEM103 as an adjunct to standard of care aflibercept therapy, with patients randomized 2:1 between a GEM103 plus aflibercept arm and a sham comparator plus aflibercept arm. Interim analysis showed that intravitreal GEM103 plus aflibercept was generally well-tolerated, and the safety profile was generally consistent with the sham plus aflibercept arm. Patients in this study were dosed every other month concurrently with aflibercept. CFH levels remained supraphysiologic and greater than five times above baseline at the trough timepoints throughout the six months. GEM103 Study Plans: Having achieved the ReGAtta study’s primary goal of assessing GEM103’s safety and tolerability, as well as the primary goal of assessing GEM103’s safety and tolerability as an add-on to aflibercept for the treatment of wet AMD, the Company will end both of these ongoing Phase 2a studies with patients returning for a final safety visit. Price Target Changed • Nov 24
Price target decreased to US$19.67 Down from US$22.00, the current price target is an average from 3 analysts. New target price is 539% above last closing price of US$3.08. Stock is down 69% over the past year. The company is forecast to post a net loss per share of US$1.85 next year compared to a net loss per share of US$7.19 last year. Executive Departure • Sep 23
Chief Technology Officer Scott Lauder has left the company On the 17th of September, Scott Lauder's tenure as Chief Technology Officer ended after 3.9 years in the role. As of June 2021, Scott still personally held 169.23k shares (US$1.1m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Bekanntmachung • Jun 24
Gemini Therapeutics Announces Initial Data from Its Ongoing Phase 2A Study of GEM103 Gemini Therapeutics, Inc. announced initial data from its Phase 2a ReGAtta study of GEM103 as of May 2021 in patients with geographic atrophy secondary to dry AMD. ReGAtta is a dose escalation trial of GEM103, which is intravitreally administered recombinant human complement factor H (CFH), in dry AMD patients. The trial, which remains ongoing, is designed to evaluate safety and tolerability, as well as measures of intraocular pharmacokinetics (PK) and disease-relevant biomarkers, to inform the late-stage development program. ReGAtta was designed to evaluate repeat dosing of GEM103 and assess its safety in an open-label study that enrolled 62 patients with GA secondary to dry AMD. The first 36 patients enrolled received monthly 250µg intravitreally administered doses of GEM103. After evaluating the safety profile of repeated dosing over three months, patients were dose escalated to 500µg and an additional 26 patients enrolled and received monthly 500µg doses. After completing the first six months of dosing, each patient will have the option to continue receiving GEM103 for up to an additional 12 months. Patients enrolled in ReGAtta had a mean age of 78 and GA secondary to dry AMD in the study eye with 63% of patients also having GA in the fellow eye. Choroidal neovascularization in the study eye was an exclusion criterion, however 30% of patients had a history of CNV in the fellow eye at baseline. Among the baseline characteristics in the study eye, mean best corrected visual acuity (BCVA) score, as measured by Early Treatment Diabetic Retinopathy Study (ETDRS) letters, at enrollment was 61.5 (with a range of 14-86). Average GA size was 8.1 mm2. The GA was foveal in 68% of patients and multifocal in 63% of patients. Loss of function variants in the CFH gene were confirmed in 55 of the 62 patients enrolled. A total of 43 patients carry a homozygous AMD risk variation at the 402 locus of the CFH gene and six patients carry a rare heterozygous variant in CFH. Summarized results observed to date in the ongoing Phase 2a ReGAtta study include the following: Demonstration of Biological Activity, Complement Regulation and Dosing Frequency Intraocular measures of CFH and biomarkers demonstrated GEM103’s biological activity to regulate complement and support every other month dosing. Both 250µg and 500µg doses of GEM103 resulted in sustained, elevated CFH levels from the first evaluated time point of one month (at least 6-fold and 12-fold above baseline, respectively) that continued to increase dose dependently; Changes in biomarkers of complement activation indicated that GEM103 has the ability to regulate the complement system and overall disease-related inflammation, with an ~40% reduction in Ba, ~20% reduction in C3a and an increase in CFB, consistent across all genotypes. GEM103 Continued to be Well-tolerated with a Differentiated Safety Profile: GEM103 was well-tolerated with no serious adverse events related to study drug and no serious ocular adverse events as of May. There were no early discontinuations due to the study drug; Over 390 injections of GEM103 were administered, which equates to a total of 28 patient-years of exposure. Treatment was well-tolerated with only 16 patients (26%) experiencing adverse events in the study eye. Among these events, 12 patients’ adverse events were related to the intravitreal administration procedure with conjunctival hemorrhage as the most common reported adverse event; Active monitoring was conducted for retina-specific safety including inflammation and CNV. Dilated retina exams were conducted at every study visit and retinal imaging was performed every three months. An independent reading center reviewed such data; There were no endophthalmitis and no vitritis, retinal vasculitis or vascular occlusive events. Mild iritis (< 1+ cell) was observed in the study eye in three patients (4.8%); all cases resolved with either observation only or topical therapy. One case was reported as related to GEM103, and all patients continued on study without disruption of GEM103 dosing schedule; One case of CNV in a study eye presented as a macular hemorrhage at month 1 in the 500µg cohort was determined by the investigator not to be related to GEM103 or the intravitreal administration procedure. The patient is receiving anti-VEGF treatment and has continued on study; There were no cases of CNV confirmed in the study eye by the independent reading center’s analysis of the retinal imaging. Visual acuity remained stable (±5 EDTRS letters) throughout the study; GA progression at three months and six months in the study eye compared to fellow eyes that also meet the inclusion criteria was statistically indistinguishable. Recent Insider Transactions • May 19
CEO, President & Director recently bought US$123k worth of stock On the 14th of May, Jason Meyenburg bought around 13k shares on-market at roughly US$9.46 per share. This was the largest purchase by an insider in the last 3 months. This was Jason's only on-market trade for the last 12 months. Bekanntmachung • May 14
Gemini Therapeutics Completes Enrollment in Phase 2a Study of Gem103 as an Add-On to anti-VEGF Therapy for the Treatment of Wet Amd Patients at Risk for Progressive Vision Loss Due to Macular Atrophy Gemini Therapeutics, Inc. announced the completion of enrollment in its Phase 2a trial advancing GEM103 as a potential add-on therapy for patients suffering from wet AMD and requiring continued anti-vascular endothelial growth factor (anti-VEGF) treatment who have, or may be at risk for, macular atrophy (MA). Topline data related to safety, tolerability, effect on intraocular complement factor H (CFH) levels and disease-relevant biomarkers of complement regulation is expected in late 2021. The ongoing Phase 2a, multicenter, multiple-dose study in subjects with Neovascular Age-related Macular
Degeneration (nAMD) with or at risk for macular atrophy, is designed to investigate the safety and tolerability
of GEM103 as an adjunct to standard of care aflibercept therapy. The study is designed to enroll approximately
45 patients randomized 2:1 between GEM103 plus aflibercept and sham plus aflibercept arms, with treatment
administered via intravitreal injection every other month for twelve months. CFH levels and disease relevant
biomarkers of complement regulation are determined from aqueous humor sampling throughout the study with visual
acuity and macular atrophy size measured at defined dosing dates. Executive Departure • Apr 18
Chief Medical Officer has left the company On the 12th of April, Marc Uknis' tenure as Chief Medical Officer ended after 1.1 years in the role. We don't have any record of a personal shareholding under Marc's name. Marc is the only executive to leave the company over the last 12 months. Bekanntmachung • Feb 25
Gemini Therapeutics, Inc. Appoints Brian Piekos Principal Financial Officer The Board of Directors of Gemini Therapeutics, Inc. (f/k/a FS Development Corp.) appointed Brian Piekos, the Company's Chief Financial Officer, as principal accounting officer and principal financial officer of the Company, effective February 17, 2021. Mr. Piekos will assume responsibility as principal accounting officer and principal financial officer from Gregg Beloff. Mr. Piekos joined the Company from AMAG Pharmaceuticals, where he was most recently Executive Vice President, Chief Financial Officer and Treasurer. Bekanntmachung • Feb 11
Gemini Therapeutics Completes Enrollment in Phase 2a Trial of GEM103 in Dry Age-Related Macular Degeneration in Patients with High-Risk Genetic Variants Gemini Therapeutics Inc. announced the completion of enrollment in its Phase 2a “ReGAtta” study. ReGAtta is a dose escalation trial of GEM103, a recombinant human complement factor H (CFH), in dry AMD patients with CFH loss-of-function gene variants. The trial is designed to evaluate safety and tolerability as well as measures of intraocular pharmacokinetics (PK) and disease-relevant biomarkers to inform the late-stage development program. The ongoing Phase 2a, multi-center, open-label, multiple ascending dose study of GEM103 in genetically-defined patients with GA secondary to dry AMD is designed to investigate safety and tolerability, PK, exploratory ocular biomarkers, and measures of retinal anatomy and function. GEM103 is delivered monthly by an intravitreal injection and PK and biomarkers of complement regulation are determined from aqueous humor sampling. The study was designed to enroll approximately 60 patients with gene variants that have been linked to the progression of dry AMD from early to late-stage. Bekanntmachung • Feb 10
FS Development Corp. Appoints Brian Piekos as Chief Financial Officer FS Development Corp. announced that Brian Piekos has been appointed to serve as Chief Financial Officer. Mr. Piekos brings more than 20 years of experience in industry and finance to Gemini. Mr. Piekos joins Gemini from AMAG Pharmaceuticals, where he was most recently Executive Vice President, Chief Financial Officer and Treasurer. Prior to joining AMAG, he held leadership roles in Corporate Finance, Tax and Treasury at Cubist Pharmaceuticals. Mr. Piekos began his career as a healthcare investment banker at Needham & Company and Leerink Partners, now SVB Leerink.